Strapping Materials Market

Strapping Materials Market: Market: Overview

The widened scope of strapping material in a plethora of industries such as food & beverage, industrial logistics, warehouse, newspaper and graphics, building and construction, metal, and others may bring substantial growth for the global market during the forecast period of 2021-2031.

Plastic strapping material can be derived from petroleum-based feedstock, and metal strapping material is steel. Plastic straps can be elongated and are tension resistant, whereas steel straps exhibit tensile strength, which is advantageous in packaging metal and construction materials. The benefits of strapping material make it one of the preferred methods across many end-user industries.

The market can be segmented into steel, polyester, and polypropylene-based on the material. Based on application, the strapping material market can be segmented into food & beverage, industrial logistics, warehouse, newspaper and graphics, building and construction, metal, and others.

The team at Transparency Market Research (TMR) has compiled the information on the overall growth trajectory of the strapping material market. The upcoming report on the strapping material market gives a detailed insight into diverse growth aspects. Furthermore, the COVID-19 impact is also included in the report.

Strapping Material Market: Competitive Insights

The strapping material market is oligopolistic. New entrants are investing in. startups and are entering the strapping material market with high-end technology in straps manufacturing and novel features to be incorporated to expand the business portfolio. Many well-established players are striving to maintain their market presence. Investments play a crucial role in the growth of the strapping material market. Capital venture companies and investment firms are investing in this market.

Research and development activities form an essential part of the strapping material market growth structure. Technological advancements in the strapping material market, such as automatic strapping machines, have contributed to the growth due to the ease in the packaging process and its time-saving aspect.   The players invest in these activities for adding new features and upgrades to the strapping material systems. All these factors eventually increase the growth rate of the strapping material market. Strategic collaborations are also crucial for the overall development of the strapping material market.

The key market players operating in the strapping material market are Mosca GmbH, 3M, Signode Packaging, System, Strapack, Inc., and Signor Strapping Solutions.

Strapping Material Market: Important Trends

The popularity of strapping has increased extensively in the construction sector due to the optimal use of steel strapping. The benefits that steel strapping provides are hot temperature resistance, high break strength, UV resistance, extreme durability, capacity to carry heavy loads, etc. All these factors assure considerable growth for the strapping material market.

Furthermore, plastic strapping is also gaining attention due to its elongation and recovery aspects. Plastic strapping is ideal for paper, lumber, fresh produce, and others. Plastic strapping was done manually in conventional ways. Still, the innovations such as automatic strapping machines have reduced the workload and increased efficiency, which ultimately acts as a growth booster for the strapping material market.

Polyester strapping is used for medium to heavy-duty loads and heavy packaging due to its strength, more excellent elongation, high-level tension resistance, and high recovery, which can prove to be a game-changer for the strapping material market.

The polypropylene segment is a prominent material segment that has contributed to the market growth due to its cost-effectiveness and accessible recycling properties.

At the onset of the COVID-19 pandemic, the e-commerce segment has shown rapid growth so the corrugated cardboard and paper segment has shown substantial growth. The rising awareness regarding environment-friendly packaging has led to innovative designs and sustainable materials, promoting the development of the strapping material market.

Strapping Material Market: Noteworthy Regions

The strapping material market in Asia Pacific is estimated to observe a dominating position through the forecast period of 2021-2031 owing to its rising demand in industrial logistics, food and beverages, warehouse, and newspaper and graphics.